TDS on Real estate Industry
Concept of TDS for Real estate Industry: Vide Finance Act 2013; concept of TDS on Real estate transactions was introduced in India. As per Newly inserted section 194IA, Any person,… Read more »
Tag: tax deducted at source
Correction Statements for F.Y. 2013-14 can now be prepared using FVU 3.9
As observed, the FVU version 3.8 released by NSDL was not allowing the preparation of Correction Statements for F.Y. 2013-14. On 12th August 2013, New File Validation Utlity (FVU version 3.9)… Read more »
Interest on late deposit of TDS – 3 % for delay of one day
Interest on late deposit of TDS is applicable @ 1.5 % per month or part thereof. The period for delay is taken from date of deduction to date of deposit…. Read more »
Clarification on 194I
As rent on plant & machinery and rent on property & furniture attracted different rate of TDS, there was lot of confusion which resulted in incorrect deductions leading to unintentional… Read more »
New challan file for TDS/TCS payments
You can download the new challan file for TDS/TCS payments from the following link: Download New challan file This file includes field for payment of late fee u/s 234E.
TDS on transfer of immovable properties w.e.f 01.06.2013
From June 1st 2013, transfer by a resident of immovable property (other than agricultural land) where consideration exceeds Rs 50 lakhs would attract TDS @ 1% u/s 194 IA. The… Read more »